Category: Filing Status

Acquiring a master’s degree in your preferred field opens the door to plenty of new opportunities. Not only does obtaining a master’s degree increase the chances for upward mobility, but it also allows the graduates more job freedom. Unfortunately, many prospective students find that attending a traditional school is not in their best interest. The good news is that an online master’s degree program is a great alternative solution. Here are some of the benefits of enrolling in an online master’s degree program.

Master’s Degree Grad (Photo credit: CSUF Photos)

Career advancement
For the people that are looking to advance in their current field of employment, acquiring a master’s degree will surely add to their list of credentials. The students will be able to learn new skills and expand their expertise in the chosen field. Employers are always on the lookout for potential employees that have a master’s degree on their resume. Furthermore, this also means that there will be a chance to have a substantial increase in salary.A more flexible schedule
Enrolling in a master’s degree program at a traditional school will likely take up a lot of the student’s time. Students that have families or work at a demanding job may have a hard time finding enough time attend the classes. Fulfilling the family duties can get to be quite nerve-racking. An online master’s degree program certainly allows a lot more flexibility. This convenience will enable the student to work at a more manageable pace without the extra stress.

Cost
The expensive cost of attending a traditional school is one of the top reasons that some people opt to not enroll. The majority of online master’s degree programs are a lot less expensive. This is especially beneficial for the students that are not eligible for any loans and must pay out of pocket. Many of the online professors also provide much of the study material, so this means that the students will not be required to purchase tons of expensive textbooks. The IRS offers Tax Credits for education at many levels but they only help to a certain extent, so getting the best education at a good price is pivotal.

Some employers are willing to pay for a student’s tuition
Many employers realize the importance of education. This is the reason why some companies are willing to help out on the expense of attending school. An online mba program enables students to continue at their current job while working towards obtaining a master’s degree.

E-Filing Your Taxes With TurboTax 2013

We are in the midst of the 2013 tax filing season. Every year since 1993; Americans have increasingly used e-filing software to file their tax returns. TurboTax 2013 has perfected the process of contemporary electronic tax filing.

Since the IRS introduced electronic filing in 1990, they have securely processed over 1 billion individually prepared electronic tax returns. The IRS touts e filing for the following benefits —

• The Tax Returns are More Accurate and Complete – TurboTax 2013 does all the math calculating and even compares data from previous year’s filings for consistency. TurboTax is able to determine state taxes where that information is required on a Federal return, you do not need a separate resource for that. You do not have to be an experienced tax filer to use TurboTax2013.
• Secure and Confirmed Delivery of Your Return — TurboTax utilizes state of the art encryption technology for the secure web transport of your tax return. You will receive an email within 48hrs from the IRS confirming receipt of your return.
• Refunds are Processed and Delivered More Quickly — E filed returns that indicate refunds are processed more quickly than paper filed tax returns. TurboTax2013 works seamlessly with your bank and the IRS for faster direct depositing of your refund.
• Ease of Use — There is no simpler, easy to navigate and use tax software than TurboTax2013. TurboTax is intuitive and self-correcting. TurboTax will prepare your Federal and state returns simultaneously, alleviating the need to input the same data on two forms. TurboTax software is written with knowledge of all the divergent state laws and procedures for filing and makes those transparent for the user.
• Peace of Mind — In addition to the 48-hour receipt confirmation by email from the IRS, you will have peace of mind that your e filed return is accurate.

E-File Dates

E-files dates for 2013 start with the opening date of January 30. The IRS will begin accepting e filed returns after incorporating all the tax policy and law changes that took effect January 2nd. Some e-file dates are later due to late legislation that requires more extensive system testing and programming. Nevertheless, the IRS is prepared to start accepting electronic returns by January 30th, and will process the biggest volume of e filings by late February-early March. That group includes those who will be claiming energy credits, property credits and other business related tax incentives.

The IRS says that the best option is to file electronically. TurboTax 2013 is the safest, quickest and easiest to use software for e filing. You will be assured to meet the e-file dates and have access to TurboTax’s outstanding customer service and support should you encounter an issue with your return that requires expert assistance. TurboTax is the best selling, most trusted e filing software for a reason, the reason is trust; TurboTax gives its users the assurance of an accurate, securely prepared and delivered tax return.

Mitt Romney at one of his presidential campaign rallies. (Photo credit: Wikipedia)

Welcome to the October 4, 2012 edition of Tax Carnival Ecstasy. In this edition we have some very good articles including the first one by David de Souza on How Do Your Tax Credits Compare With The Rest Of The UK? Anisha at Nerdwallet.com takes a look at Tax-Advantaged Savings Vehicles. How will Mitt Romney handle The Debt Ceiling Deal? Bill Smith has a post for your consideration. And finally Edward Webber examines Which Countries Have The Highest Tax Rates. Hope you enjoy the articles, bookmark, share, tweet, like on Facebook and come back soon.

credits

Samantha Savory presents Let the (Budgeted) Fall Shopping Season Begin! | Miss Money Bee posted at Miss Money Bee, saying, “Temperatures are getting lower and soon the leaves will start changing, which can only mean one thing: Fall is nearly here! For most people, the fall season brings pumpkins, cozy sweaters and cool nights to mind. For others, it signals the time to put away their summer wardrobe and prepare for sweater dresses and boots. After you get done with the task of packing away your favorite tank tops and shorts, you might find that last year’s threads are worn or damaged.”
David de Souza presents How Do Your Tax Credits Compare With The Rest Of The UK? posted at Tax Credits, saying, “This blog post shows which areas of the UK recieve the most tax credits, with London top of the table at over 5,200 pounds.”

taxes

Bill Smith presents Mitt Romney and The Debt Ceiling Deal posted at 2011 Taxes, saying, “Mitt Romney called the deal between the White House and the congressional Republicans “a mistake”. He went on to say that the deal would cut our defense budget badly.”
Edward Webber presents Which Countries Have The Highest Tax Rates posted at TaxFix, saying, “If you think you are paying a high amount of tax, you should compare the tax rates of some of the other countries in the world.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Free TurboTax

When you are going to file your taxes, you may find it is a bit more complex then what you were thinking it would be. This is when you should learn more about the benefits of using free turbo tax to file your 2012 taxes. Once you know about the benefits which are present here, you will not want to use anything else, but you will want to do all of your tax work from this type of location.

Price:

The first benefit you can find is the cost of getting your 2012 taxes done with the free turbo tax is generally a lot lower then what you would think it is. So you do not have to be concerned about paying a fortune for the service, even if you are not getting any money back.

Ease of Use:

Another benefit you can find is the ease of using these programs. Normally you can use some of the different tax companies to help you with this process. When you use them you will not have to be fighting with trying to figure out how you are going to get line twenty to match up with line three hundred in your papers. So this will make it easier for you to get all of your work completed and get the information filed quickly.

Quick Return:

Something else you will want to realize is when you use the free turbo tax for your 2012 taxes you generally get your return quicker. The reason you get your return quicker is you just have to input all of your information, then you just click the button to submit. Once it is submitted you do not have to pay any money out, but you will be able to get the money deposited into your account faster then if you were waiting on a service to do the work for you.

Being able to have your taxes done for you is a great thing to have. However, it can be a challenge at times if you are not sure about what you are doing and do not want to pay a service a ton of money to file for you. This is when you should know the benefits of using free turbo tax to get your 2012 taxes done. By knowing about these benefits you can easily see this is the best and fastest way to get your taxes done without costing you a fortune.

Welcome to the March 27, 2012 edition of Tax Carnival Ecstasy. We start this edition with Stefanie who has an article Tax Time, and how she is loving TurboTax while filing her own return. Mark Roberts takes a look at the The Tax Brackets for 2012. We have a post on the Common Bookkeeping Mistakes That Weigh Down On Business Profits by Bill Smith. And finally there’s a look at the 2013 Federal Budge and how it affects your taxes. Hope you enjoy the articles, bookmark, share, tweet, like on Facebook and come back soon.

filing

Stefanie presents Tax Time | Making of a Mom posted at Making of a Mom, saying, “I love tax time because TurboTax makes it possible for normal people (not tax professionals) to complete their own taxes!”

Mark Roberts presents The Tax Brackets for 2012 posted at Tax Brackets, saying, “The tax brackets for 2012 have been announced. This post highlights the new brackets for 2012.”

retirement

David K presents Baby Boomers are you Worried about having enough saved for retirement? posted at Personal Finance Blog, saying, “Here’s a simple approach: work just a few years longer. By accumulating more savings and shortening your withdrawal period, you’ll reduce the lump sum needed to generate the necessary income at retirement.”

Dividend Growth Investor presents Does entry price matter to dividend investors? posted at Dividend Growth Investor, saying, “The reason for the lost decade in stocks is that many otherwise quality companies were overvalued in the early 2000s. For example Johnson & Johnson (JNJ) was trading at 29.30 times earnings in early 2000, whereas McDonald’s (MCD) traded at 26.90 times earnings. Even some of the best dividend stocks are not worth paying more than 20 times forward earnings.”

CultOfMoney presents How government budgets work posted at CultOfMoney, saying, “Whether you’re trying to get a sweet-ass government job, planning to run for office, want to know how you can influence the process to your favor, or you’re just a concerned citizen, knowing how the federal state, county, and cities create a government budget, and knowing how government budgets work in general will help you. So become involved and go to a local budget hearing, and after reading this article, you’ll sound like someone in the know whose opinions should be respected.”

tips

DeWitt Dudley presents What Are The Best Trust Structures To Protect Liquid Assets? | Law Offices of Givner & Kaye posted at Law Offices of Givner & Kaye, saying, “Why is the non-U.S. trust so effective? Because the both the trust and the assets are not subject to the jurisdiction of a judge in the United States.”

Sean presents Student Car Loans posted at My Next College, saying, “Students still must have adequate income to afford the payment and insurance.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Quite a number of people do not realize the effects of an early withdrawal of money from their retirement funds. They do not actually feel the impact immediately, but it always shows when a tax return if filed.

If you want to know what the IRS perceives about this kind of situation, here are 10 truths.

1. If you receive any modes of payment from your retirement plans before you are 59 ½ years it will be reflected as early distribution.

2. A further 10 percent tax will be subjected against this kind of withdrawal.

3. Any time you make a withdrawal from your early retirement plan you are required to inform the IRS about it.

4. If you roll over to a different IRA or another certified retirement plan, you must complete it within 60 days in order for you to avoid the extra 10 percent tax.

5. You can only be taxed when the new plan sends the distribution to either you or your recipient.

6. Your nondeductible contribution put into an IRA will not be taxed, even if you decide to distribute any amount of that nondeductible contribution.

7. An early distribution from a Roth IRA that is featured in your previous contributions is not taxable.

8. An after-tax employee contribution made to the plan is the only thing that, will exempt you from taxation of early distribution receivable from any other certified retirement plans.

9. If you make a withdrawal from any of your retirement plans for purposes of purchasing a first home costing up to $10,000, for medical and educational expenses then the 10 percent tax will not apply to the distribution. Furthermore this rule applies to a totally and permanently disabled individual.

10. If you need any more assistance or information regarding the above listed things, you may purchase the 575th IRS publication or the Individual Retirement Arrangements. You can also do so through the Pension and Annuity Income and Publication 590. Additionally, visit www.irs.gov or just make a phone call to 800-TAX-FORM (800-829-3676).